The National Payments Corporation of India (NPCI) allowed Paytm to onboard new UPI users, following previous restrictions on Paytm Payments Bank.
Paytm reported ₹930 Cr profit in Q2, largely driven by a ₹1,345 Cr one-time gain from selling its entertainment ticketing business.
Despite profit growth, Paytm’s revenue dropped 34% YoY to ₹1,660 Cr, raising concerns about long-term sustainability.
Paytm’s revenue grew 10.5% QoQ due to an increase in GMV and better realisation, from ₹1,501.6 Cr to ₹1,660 Cr.
Paytm’s financial services segment saw a 34% QoQ rise, contributing ₹376 Cr to the total quarterly revenue.